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22 of 24 people found the following review helpful
4.0 out of 5 stars Useful companion that tells it like it is
As an enlightening introduction to betting exchange punting this is a well set out publication. The formative chapters pay much attention to the thrills of horse racing, the game of luck and chance, and the need for punters to have the opportunity to offset bets if they are to make them truly safe. This is where betting exchanges come in, allowing the bettor to place and...
Published on 11 Jan 2005 by colinwjunior

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34 of 35 people found the following review helpful
3.0 out of 5 stars Not total satisfaction ...........
If I was new to the betting exchanges then this book would be great. I'm not though and although it does cover some advanced examples of trading it didn't quite hit the spot. Maybe I'm not being fair, maybe this really is all there is to making money on the exchanges. What I do know is it still leaves me with having to think too much about how to turn a losing situation...
Published on 19 Nov 2004 by Paul Reynolds


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34 of 35 people found the following review helpful
3.0 out of 5 stars Not total satisfaction ..........., 19 Nov 2004
By 
Paul Reynolds (Ashford, Middlesex United Kingdom) - See all my reviews
This review is from: Lay,Back and Think of Winning: Guaranteed Winning Systems for the Betting Exchange (Paperback)
If I was new to the betting exchanges then this book would be great. I'm not though and although it does cover some advanced examples of trading it didn't quite hit the spot. Maybe I'm not being fair, maybe this really is all there is to making money on the exchanges. What I do know is it still leaves me with having to think too much about how to turn a losing situation into a break-even one. I like the way the author keeps re-iterating his basic principles and the step by step calculations are well presented. I was surprised at the amount of time spent on horse racing as opposed to other areas to trade. However Horse racing does have the highest liquidity if you pick the correct races so they are good examples.
In a nutshell, I would recommend the book to anyone with limited knowledge of exchanges but I can't believe that it offers anything exciting to an experienced trader. So, I'll keep waiting for the ultimate exchange guide. Meanwhile, I'm off to change to a broadband connection .........
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30 of 31 people found the following review helpful
3.0 out of 5 stars An interesting read, 6 Oct 2005
By A Customer
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This review is from: Lay,Back and Think of Winning: Guaranteed Winning Systems for the Betting Exchange (Paperback)
The basic strategy is back high then lay low or lay low then back high.
I found the book well written and interesting to read.My main criticism is that there is no formulae given to maximise your win or minimise your loss if the price moves the wrong way. There is an assumption that you will guess/work out the right to trade most of the time.
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35 of 37 people found the following review helpful
3.0 out of 5 stars A good practical guide but No Guarantees, 15 Nov 2004
This review is from: Lay,Back and Think of Winning: Guaranteed Winning Systems for the Betting Exchange (Paperback)
A well-written book if you are looking to understand the mechanics of placing bets on Betting Exchanges but if you are looking for more, you may be disappointed. The Amazon synopsis above mentions a simple winning bet to start things off but whether my book is a reprint or what, nothing of the sort was found in my copy!
The cover may mention "Guaranteed To Win" but with this approach, you are also guaranteed to lose and the book itself makes this fairly clear. Hopefully your losses can be of less amount and less frequent than the wins and the text identifies what to do to push the odds more in your favour but there is obviously no "free lunch". There is very little reference to arbitrage or "risk-free" bets between exchanges and/or bookies
The book mainly focuses on horse racing with only minor reference to other events. One of the favoured approaches (the Higher Lay) is to lay (small) bets off and hope (with reason) that the dynamics of the betting process provide the opportunity to later back the win on the same horse when the odds have lengthened - if not, you lose!! Although at the mercy of the stakes available, I would have expected calculations to show more clearly how to equalise or favour different event outcomes rather than just examples using arbitrary values.
An informative read especially for horse racing fanatics but the hype on the cover and the honest reality within the pages might leave you feeling slightly short-changed.
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22 of 24 people found the following review helpful
4.0 out of 5 stars Useful companion that tells it like it is, 11 Jan 2005
This review is from: Lay,Back and Think of Winning: Guaranteed Winning Systems for the Betting Exchange (Paperback)
As an enlightening introduction to betting exchange punting this is a well set out publication. The formative chapters pay much attention to the thrills of horse racing, the game of luck and chance, and the need for punters to have the opportunity to offset bets if they are to make them truly safe. This is where betting exchanges come in, allowing the bettor to place and lay a bet, which as the author explains opens up some interesting opportunities.
I thought the lay out and explanations were succinct and well delivered. My only disappointment was that not enough pages were devoted to sports such as golf or grand prix racing or, indeed, the financial markets, which I believe many readers would find interesting. As one who trades modestly and for pleasure more than serious profit, I welcomed the advice and enjoyed the personable style the author manages to sustain, at least most of the time.
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4 of 4 people found the following review helpful
1.0 out of 5 stars Out of Date methods - avoid, 17 Dec 2012
By 
Mr. Reasonable (East Midlands , UK) - See all my reviews
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This review is from: Lay,Back and Think of Winning: Guaranteed Winning Systems for the Betting Exchange (Paperback)
Successful Betfair trading requires some knowledge/indication of the future direction of prices. The strategies outlined in this book are based upon using Weight of Money (WOM) to determine future price direction. This might have been enough in 2004 when this book was published but it won't work on its own now. The market has since evolved and WOM is often manipulated by sophisticated traders and computer bot programs to lure the unwary into donating their money to the wrong side of the market. You have been warned.

There is no book that you can learn Betfair trading from, any strategy published in a book will be out of date by the time you get to read it. The best you can hope for in a book is an overview of how the markets work, you have to work out your own strategy, maybe using this out of date stuff as a base to start from. It requires patience and painstaking trial and error.
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15 of 17 people found the following review helpful
3.0 out of 5 stars Perhaps a Dated Concept, 5 Jan 2007
This review is from: Lay,Back and Think of Winning: Guaranteed Winning Systems for the Betting Exchange (Paperback)
Interesting read, but this book lacks the "what if things move the wrong way" aspect. If you make your correct decisions in backing high and laying low, then a book is not needed, you will make a living. Simple as that! A book should tell you how to keep picking winning selections but (perhaps more importantly) reduce losing damage when a wrong decision is made.

When I tested the principle of weight of money online, I found that because of the amount of people trading there was not many opportunities to lock in a profit. Also, there comes a point where you have to take a position and lay your bet, the book assumes you back when the price is just about to move, this is almost impossible to do in practise as the price is ALWAYS moving! I think some of the concepts are dated.

Good ideas in places, but perhaps something that in the 2 years since publication, betfair has changed and the weight of money theorums are now just too obvious to too many punters.

The problem with any book is that once loads of people start applying the systems recommended the markets alter making them difficult to implement. I would recommend this book but as a way of getting your mind ticking over to think of ideas for profit, but in regards to what is recommended in the text itself I would invest wisely.
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21 of 24 people found the following review helpful
4.0 out of 5 stars Tackles exchange betting with clarity and common sense, 14 Jan 2005
By 
Philip Kanz-Riley (Auckland, New Zealand) - See all my reviews
This review is from: Lay,Back and Think of Winning: Guaranteed Winning Systems for the Betting Exchange (Paperback)
Writing from a country where betting exchanges haven't yet surfaced, this sort of guide is a bit premature. But it was a gift from an Amazon-nuts friend, so I am not complaining.
As a seasoned online punter I have been watching the betting exchange craze develop with a sense of incredulity and skepticism.
My bookie friends say they could do without it, and my UK friends who have been converted say that can't live without it. Of course, I have been to the main UK/Ireland exchanges and dipped my toes in, and I can certainly see the attraction. Suddenly a punter can bet for or against something, or even the same thing.
Lay, Back and Think of Winning makes sense of what can appear complicated for the first-time 'dipper', and the chapters that deal with trading methods are sometimes smart, sometimes simply based on common sense.
The bits in the book on trading between the difference on a Back and Lay price, what some call arbitrage, can seem enticing but if everybody is trying to do the same thing would the mechanism still work? Who knows, provided they all didn't try to arbritrage at the same time.
For me, arbitrage betting on different events around the world with different online bookmakers would appear to be a safer bet. But that is probably because I am biased, since that's what I do. So until betting exchanges come to more countries I will have to be an interested spectator, because as the book highlights, you really need to watch the sporting event on which you are exchange betting, whehter it is horse racing or anything else.
This is nicely written and maintains interest, as long as you are interested in the first place.
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21 of 24 people found the following review helpful
1.0 out of 5 stars Novice interest only - Punters Beware, 5 Dec 2004
By A Customer
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This review is from: Lay,Back and Think of Winning: Guaranteed Winning Systems for the Betting Exchange (Paperback)
This is not a book for punters who already are using betting exchanges - nor is it a book for sports punters.
The author is almost exclusively focused on horse racing (90%), and explaining the basics of so-called "systems" in a manner that is aimed at novice punters.
He comes up with a series of cutesy names like the "HOOF" the "Take On" and the "Double Take On" but really it's pretty obvious stuff.
There are a series of carefully worked examples that show you how you can make money by LAYING losing horses and BACKING winning horses and how to make money when the market moves your way. Pick winners!! That's how you make money!! Gosh!!
As a basic primer in using exchanges for horse racing, and a list of internet sites for information ... then this book is OK. But it goes nowhere near even living up to it's title.
If you are already a punter then don't buy this book - find a mate who already has - I'm sure he'll be happy to lend it to you for a long time - or sell it for a quid (which is probably it's real market value).
This one will be in the "bargain basement bin" by Xmas time ... and being recycled as firelighters by next Christmas.
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7 of 8 people found the following review helpful
3.0 out of 5 stars Nice enough book, 26 Mar 2007
By 
J. S. Evans (Newport, Gwent United Kingdom) - See all my reviews
(REAL NAME)   
This review is from: Lay,Back and Think of Winning: Guaranteed Winning Systems for the Betting Exchange (Paperback)
This is a nice enough book, a pleasnt read and an introduction on trading on horses and a little section on trading on sports. Unfortunataly this book only deals with trades when they go right. Lets face it anyone can make a profit when the event starts going our way, lay low back higher its not rocket science, what the author dosent concentrate enough on is when the trades start going against you, useful information on when to bail out would be useful. He then gives a perfect example of a tennis trade in the sporting section, nothing that anyone wouldnt have done anyway. Dont get me wrong this is a nice book to read and im sure the author has the readers best intentions at heart, he just focuses too much on when things go right and not enough on when things go pear shaped
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13 of 15 people found the following review helpful
4.0 out of 5 stars Great manual for the begginer, with many insights., 11 Dec 2004
By 
Shane Ziel (Cork, Ireland) - See all my reviews
This review is from: Lay,Back and Think of Winning: Guaranteed Winning Systems for the Betting Exchange (Paperback)
I agree with most of the reviews (I would have given this 5 stars if it had more trading examples). Nice writing and sensible guidance. A good number of the chapters are devoted to the authors views on betting and interest in horse racing. It seems most money bet on the betting exchanges regularly comes from this and so the methods are practical and the advice is re-assuring. But most important of all it gives a clear picture of how the exchanges work and how they can work for any one disciplined enough to try it out. Or any one with enough time. I lose on one of those counts!
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